The New Zealand Financial Markets Authority published a table comparing how quickly New Zealand financial institutions adjust customer interest rates following changes to the Reserve Bank of New Zealand’s Official Cash Rate. The information was requested from eight institutions that account for about 98% of housing loans, and covers both the size of interest rate changes and the time taken for them to take effect. The dataset focuses on two products typically influenced by OCR moves, floating rate mortgages and on call savings accounts, and distinguishes between new and existing customers. The FMA framed the publication as a centralised source of information intended to improve transparency on OCR pass-through and support consumer decision-making, noting that participating institutions already disclose product rate changes through various channels.
New Zealand Financial Markets Authority 2025-12-03
New Zealand Financial Markets Authority publishes data on how quickly eight major lenders pass through Official Cash Rate changes
The New Zealand Financial Markets Authority released a table detailing the speed and magnitude of interest rate adjustments by major financial institutions in response to changes in the Reserve Bank of New Zealand's Official Cash Rate, covering floating rate mortgages and on-call savings accounts for both new and existing customers. This initiative aims to enhance transparency and aid consumer decision-making regarding OCR pass-through.